For those following TA, we had a breakout today on a classic William O'Neil cup & handle formation.
Projections are for next resistance at the 66-69 level, which happen to correspond with the last cycle high.
The trading strategy would be to sell, or hedge on trend reversal at resistance, or alternatively, add to your position on a breakout above the resistance level, provided the breakout occurs on higher than average volume.
Vrta is up 14%, responding to a BoA upgrade and $150 target. Efnt is up 7%. Sector doing well, technically speaking. Edge access stocks are continuing to gain momentum, as this is the fastest growing sector in the economy.
Jack Hutchison |
